LANCASTER, Pa., June 4 /PRNewswire-FirstCall/ -- Herley Industries, Inc. (Nasdaq: HRLY) announced today that its GMI Eyal subsidiary, in Israel, has recently received contracts valued at approximately $4 million to provide various complex microwave switch assemblies for a U.S. customer. These are follow-on awards for an existing customer and program. The hardware will be used for ongoing upgrades to a U.S. aircraft.
Herley Industries, Inc. acquired Eyal Microwave Industries, ("EMI") last year to gain market share in command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) systems.
Myron Levy, Herley's Chairman and CEO, commented, "GMI Eyal is proving to be a good acquisition for Herley, with steady growth and good performance. Yonah Adelman is General Manager for both of our Israeli manufacturing operations. Yonah and his team have built a strong business relationship with this customer, and we believe that we will see additional contract awards within the next few months and in the future."
Herley Industries, Inc. is a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide. Based in Lancaster, PA, Herley has seven manufacturing locations and approximately 1000 employees. Additional information about the company can be found on the Internet at www.herley.com.
For information at Herley contact: Tel: (717) 735-8117 Peg Guzzetti www.herley.com Investor Relations
Safe Harbor Statement - Except for the historical information contained herein, this release may contain forward-looking statements. Such statements are inherently subject to risks and uncertainties. When used in this report, words such as "anticipated," "believes," "could," "estimates," "expects," "may," "plans," "potential" and "intends" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. The Company's results could differ materially based on various factors, including, but not limited to, competitive factors and pricing pressures, changes in legal and regulatory requirements, cancellation or deferral of customer orders, technological change or difficulties, difficulties in the timely development of new products, difficulties in manufacturing, commercialization and trade difficulties, and current economic conditions. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
|SOURCE Herley Industries, Inc.|
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